Equipment Inventory Policy

Property control tags identify each piece of University owned equipment (except the hospital) which has a purchase cost of $1,000.00 or more per unit and a useful life of 2 years or more.

The tagging procedure consists of Plant and Debt Accounting issuing property
control tag(s) and forwarding the tag(s) and a copy of the invoice and/or
purchase order to the department. The department administrator is
required to verify receipt of goods and affix the property control tag to the
appropriate item.

Upon this verification, department administrators are responsible for updating building, room, responsible person and serial numbers for active equipment within the URSpace equipment module using the 'Update' tab. URSpace is the space and equipment inventory management database for the University.

Equipment disposals must be requested using the 'Disposal' tab within the URSpace equipment module. The property control tag and reason for disposition (e.g. traded in, sold, scrapped or transferred) must be included with the request.

Plant and Debt Accounting should be notified at equipadmin@rochester.edu if any piece of equipment with a purchase cost greater than $1,000.00 has not been issued a property tag. The purchase will be reviewed and a property control tag assigned, where appropriate.

Physical verification of departmental inventories will be made every 2 (two) years as requested by Plant and Debt Accounting.